Res 1984-034 - Laserfiche WebLink

Home Browse Search

C. DELINQUENCY CHARGE. A delinquency charge of 1. 5% per month shall be added to payments required by Paragraphs A and B above, which are rendered more than fifteen (15) days delinquent. D. PLACE OF PAYr1ENT. All payments due Lessor from Lessee shall be made to the City of San Marco s, 630 E. Hopkins, San Marcos, Texas 78666. E. RENEGOTIATION OF RENT AND FEES. The rent and fees specified in Paragraphs A.l. and A. 2. above, shall be adjusted during the last SlX ( 6) months of each five (5) year period of this Agreement, and the Lessor shall have the right to increase or raise such rent and fees at such time only by an amount no greater than $.05 per square foot per year. Any rental increase amount shall be added to the " . max lmUIil. average total payment" limit to increase that 1 imi t for the subsequent five (5) year period of this Agreement. It is understood that no such increases shall be requi:r:.ed if Lessee is prohibited by law or regulation from passing such increase on to its customers. F. RECORDS. Lessee shall provide and maintain accurate records of all sales derived under this Agreement for a period of three (3) years from the date the record lS made. Such records shall be maintained according to generally accepted accounting principles. Lessor or its duly authorized representatives shall have the right at all reasonable times during business hours to inspect the books, records and receipts of Lessee, and to verify Lessee's reported sales. G. A..N'NUAL STATEt1ENT. Within sixty (60) days after the end ,of each fiscal year, Lessee shall furnish to Lessor a statement of fuel, maintenance and repair sales g~~erated during the preceding fiscal year, certified by an officer of Lessee as to its correctness. Lessòr reserves the right to audit said statement and Lessee's books and records, including examination of the general ledger and all other PAGE 9